Railway Stocks Tumble in China, Hong Kong After Train Crash
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China’s railway companies tumbled in Shanghai and Hong Kong trading on concern a deadly bullet train accident in the eastern part of the country will prompt the government to slow construction and reduce investment.
CSR Corp., the largest train maker, slumped 8.9 percent to 6.04 yuan today, the biggest decline since August 2008. China CNR Corp., the second-largest, lost 9.7 percent to 5.87 yuan, its biggest drop since listing in 2009. China Railway Construction Corp., builder of more than half of the nation’s rail links since 1949, sank 5.9 percent in Hong Kong.